TRX Poised for All-Time High as Major Cryptocurrencies Struggle to Gain Momentum-web3.0-php.cn

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TRX Poised for All-Time High as Major Cryptocurrencies Struggle to Gain Momentum

Barbara Streisand

Oct 22, 2024 am 09:04 AM

All-Time HighTron (TRX) Daily Chart Insights

TRX could soar by 7% to reach the $0.17 level. Traders over-leveraged at $0.154 on the lower side and $0.159 on the upper side.

TRX Poised for All-Time High as Major Cryptocurrencies Struggle to Gain Momentum

Major cryptocurrency is struggling to gain momentum, but TRX is showing signs of strength.

After forming a bullish morning star candlestick pattern at a crucial support level of $0.156, TRX could soar by 7% to reach the $0.17 level.

However, TRX’s Relative Strength Index (RSI) and the 200-day Exponential Moving Average (EMA) suggest a potential upside rally and an uptrend for the asset.

Moreover, TRX’s long/short ratio is currently at 1.02, indicating a bullish sentiment among traders.

If the sentiment remains unchanged and the price rises to the $0.159 level, nearly $319,510 worth of short positions will be liquidated.

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